Advancing NH Public Education must hate seniors. At least that is what we can only surmise from their less than impressionable mention of Senator Andy Sanborn’s effective effort to reduce and eventually eradicate the NH state tax on interest and dividends.
New Hampshire prides itself on being a ‘no income-tax state’. But some say this tax on savings is indeed an ‘income’ tax.
State Senator Sanborn filed SB 404 and on February 22, the state Senate voted YEA along party lines (12-9). If passed in the House and signed by the Governor, this bill would phase out the state tax on interests and dividends over the next five years.
You can thank these Senators for voting for this bill:
Avard, Kevin Republican
Birdsell, Regina Republican
Daniels, Gary Republican
French, Harold Republican
Gannon, William Republican
Giuda, Bob Republican
Gray, James Republican
Innis, Daniel Republican
Morse, Chuck Republican
Reagan, John Republican
Sanborn, Andy Republican
Ward, Ruth Republican
Sanborn stated to the UL: “We have spent the last four years reducing taxes to make the state more business friendly and now we are eliminating taxes for individuals, primarily retirees who count on this income to live,” said Sanborn. “If we are to claim that New Hampshire is an income tax free state that should be reflective in our laws.”
The fact is, passing this will help many people who are being denied survivor benefits derived from the Social Security contributions of a deceased spouse, while being unable to collect any of their own social security benefits. With the current tax, folks who must rely on their savings to live are in effect being penalized, while the government gets away with stealing the spouse’s money.
But do not expect to make a comment under their articles in support of the bill. ANHPE censors all comments that question or challenge their articles and positions.